Continental Airlines reported a first-quarter net loss of $80 million, reversed from a $22 million profit in the year-ago period, and confirmed yesterday that it has redeemed Northwest Airlines' "golden share" that prevented CO from entering into merger agreements.
NWA's golden share was contingent on the former not entering into any merger agreement. Its tie-up pact with Delta Air Lines earlier this week (ATWOnline, April 16) allowed CO to buy back the share for $100, leaving the ...